From livestream storefronts in TikTok to high-growth tech startups, Vietnamese business leaders are not waiting for permission to build. In the first half of 2025 alone, TikTok Shop’s gross merchandise value in Vietnam surged by 148% year-over-year, supported by more than 266,000 revenue-generating sellers. Many of them are young adults launching fashion, beauty, and lifestyle brands with no more than a smartphone, consistency, and high digital literacy. It doesn’t just stop at social commerce, though. Vietnam’s startup ecosystem now includes more than 5000 active startups across fintech, e-commerce, EV technology, and many more.
Companies such as Sky Mavis, VNG Corporation, and MoMo spark local ambition and show that Vietnam is no stranger to packaging innovation in robust businesses. As Vietnam’s economic growth continues to accelerate, the scale of opportunity is changing. Starting a business is now rudimentary; scaling operations regionally is no longer a challenge, so where is the bottleneck?
For Cher Vo MBA ’22, that structured approach to leadership fit her focus perfectly. “I decided to pursue an MBA at CU Denver Business School because I was looking for a program that was both practical and globally relevant,” she explains. Coming from an international background, she wanted a business education that valued diverse perspectives and emphasised real-world application rather than theory alone. These environments not only prepared her for her future career, but also contributed to her personal growth.”The personal growth I am most proud of is my development as a confident communicator and leader, along with my growth in emotional intelligence. Before the program, I was more reserved.”
Despite 170,000 new business registrations per year and over 900,000 active enterprises in total, a small fraction of Vietnamese firms have an international impact. Vietnam produces high entrepreneurial volume and strong small-to-medium enterprise (SME) growth, but lacks global brand leadership. This gap does not represent a lack of talent, ambition, or product capability. Rather, it reflects a knowledge gap in the structural stage of development that every global business experiences.
Vo’s trajectory reflects a broader insight. Entrepreneurial instinct may launch a business, but a structured strategy scales it. Reflecting on her own experience, she shares, “By using data analysis, stakeholder management, and strategic planning skills developed during [CU Denver Business School’s] MBA program, I helped identify low-performing courses, restructure schedules, and improve resource allocation.” These strategic considerations, when adapted in a business context, are necessary for international expansion. Data marrying instinct, aligning cross-functional teams, and identifying underperforming products.
With the inflection point and knowledge gap being recognized, the more pressing question is what moves a business from local traction to international relevance. Entrepreneurial instinct is the first step; cross-country fluency and global decision-making are the next powerful steps toward success. These skills cannot be artificially developed. Understanding yourself is the first step to understanding those around you. As for Vo, she reflects on how her MBA impacted her understanding of herself.
“I gained a deeper understanding of myself, what works for me, and what does not. This self-awareness has helped me become a better version of myself both personally and professionally, so I can contribute positively wherever I go.”
Cher Vo MBA ’22
CU Denver is tackling this endeavour head-on with a program intentionally built for students looking to enter the global market. Through its partnership with FSB, the CU Denver Business School-FSB MBA delivers the same curriculum and academic standards used in the United States to local learners in Vietnam.
“The CU Denver Business School and FSB MBA program can help Vietnamese students build confidence as leaders by exposing them to global perspectives, practical business tools, and highly collaborative learning environments,” she notes. “The program actively promotes speaking up, leading teams, and thinking critically.”
Beyond strategy and analytics, the most meaningful transformation was personal. Vo believes the CU Denver Business School MBA program at FSB can offer Vietnamese students the same opportunity to step outside of their comfort zones. “The CU Denver Business School MBA program can help Vietnamese FSB students build confidence as leaders by exposing them to global perspectives, practical business tools, and highly collaborative learning environments.”
For Vietnam’s next generation of entrepreneurs and professionals, ability and aptitude are no longer in question. With the right strategic foundation and the confidence to operate beyond borders, today’s local architects can become tomorrow’s globally competitive leaders.
